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Return of the Euro? they’re banking on it
In the latest part of his EU series, JOHN BOYD examines the workings of the European Central Bank — and how joining the euro could be back on the agenda for Britain in spite of the current crisis

THE European Central Bank (ECB) is an EU institution of the Economic and Monetary Union (EMU) to which all 28 EU member states belong, including Britain.

The ECB’s governing council comprises six members of the executive board and governors of national central banks within the 19 eurozone member states.

The board contains a president, Mario Draghi, a vice-president and four other members — all of whom are appointed for eight years by the European Council using qualified majority voting (QMV).

  • John Boyd is secretary of the Campaign Against Eurofederalism www.caef.org.uk.
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